West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1887-05-19
REVIEW OF BUSINESS
Loss AND GAIN IN TRADE.
Varying Enec's OF the Interstate Act
and Expansion and Change in
Currency Responsible for the
Disturbed Situation.
Disturbcd Situation.

Currency Responsible for the
Disturbed Situation.
A greas revolution in business is going on
With radically conflicting accounts II serious
losses at some localities and in some branches
and of wonderful gains at other places, or in
other departments of trade and in
dustry, the difficulty Of reaching lust
conclusions respecting the general tendency
is much enhanced. The Interstate act is but
one OF several causes which contribute TO
produce this revolution i'm commerce; expan.
SION IN the volume and change in the kind Of
currency Is another not less important Most
unexpected results are produced The Inter.
state act clearly helps some who bitterly op
posed it, and as clearly Injuries others wao
expected great benefits from its operation
Thus the river business OF the West is ex
banding under the influence of the law, and
the railroads are at the Same time getting
larger earnings from the traffic they retain
while not n few cities find, as Cincinnati
does, that trade in many lines is greatly en-
barrassed.
DIVERSION OF TRADE
One general tendency is disclosed by the
urgent demands Of suspension or change OF
the law, especially from those who most
favored its enactment. Serious diversion OF
trade from Western cities which have been
chief centers of distribution is in progress
and a multitude of smaller towns are reapinp
the benefit. Western products do not rs
rule gain anything in Eastern markets II
wheat has advanced 5llcents since the act
went into effect, corn and oats have declined
fraction, pork is about the same in price.
lard l-2c lower aud beef sells at the same
price. Cotton has been advanced 1-4o but
this change, like the rise in wheat is clearly
speculative, and therefore threatens reaction
through curtailment of demand Railroad
building is not checked by the act as yet, and
there is probability that, by encouraging
traffic at many instead of few centers of trade.
the law may tend TO the building of numer.
GUS local roads and parallel or rival lines.
EXPORT TRADE.
The output of pig iron again increases,
reaching about l39, 300 tons weekly Nav /
But this is probably high-water mark for the
time, many furnaces i'm the Pittsburgh region
having since been banked because of the
coke strike. while other eastern firms discon-
tinue production on account of rail rates
Enormous imports also tend to depression.
The lockout of stove molders has increased
in Importance, and suspicious are growing
that the manufacturers desire, through a
general suspension of work, TO reach high.
er range of prices for products.
Exports of wheat in April were 6,524.O6l
bushels, against 5, 1852, 975 lust year with 955,-
s6O barrels flour, against 7O3,12s last year.
Exports of breadstuffs reached 81, 534 .4S9 in
value, against $1i ,959, 94s last year, showing
that the comparatively quiet market in that
month favored large shipments; But prices
have since climbed rapidly, with sales of
nearly s0,0OO0O0 bushels in n week. and OK
ports are checked, while accou IS O seeding
show great increase in acreage IN Dakota
and Minnesota. Cotton exports i'm
April were reduced 80 p cent compared
with last year, the prices having risen 10 per
cent, while goods advanced only 3 per cent.
Receipts are now barely quarter those of
last year, but crop prospects are more favor
able. The lumber trade shows an increase of
demand, with scarcity in some lines.
The business failures during the last seven
days number-for the United States. 1876: for
Canada, 30; total, 1877; against 1872 last week
and l16 the corresponding week last year.
Failures arc decreasing in all parts of the
country, except, perhaps, Canada and the